March 15, 2013
No freezing order pending against Harlequin

A group of investors who had sought to have the court freeze the assets of Harlequin Hotels and Resorts, last week decided to settle the matter with the resort development company.{{more}}

The case was heard in court in the United Kingdom on March 7.

Local lawyer for Harlequin Sam Commissiong told SEARCHLIGHT that the claimants have abandoned the matter, preferring to settle it with Harlequin.

“There is no freezing order pending against Harlequin, nor is there any filed against them,” Commissiong told SEARCHLIGHT in an interview on Tuesday.

It had been reported by UK media that the investors are represented by law firm Regulatory Legal, which until last week Thursday, was negotiating with Harlequin for the return of a total of around £500,000 in deposit payments made by the investors.

United Kingdom media reports had also stated that earlier negotiations between Harlequin and the investors over getting their money back had collapsed.

In the case, which was heard at the High Court in Birmingham, the claimants were also asking questions about the ownership of some of the resort land at Buccament Bay, here in St Vincent.

Commissiong said it is true that Harlequin had money for the claimants, which was money paid on property.

“But the people realised that the case they brought would not prevail in the long run and decided to settle, get the money more quickly and go,” Commissiong said.

“They realised that the case wasn’t what they thought it was, because there is land in St Vincent; they claimed there wasn’t land in St Vincent; the cottages are finished, ready for distribution. As soon as the lawyers can do the applications for alien landholding licences and pay the balance of the purchase price, they can get their propety; there is no difficulty with that,” the lawyer explained.

He said Harlequin, which is developing the Buccament Bay Resort here in St Vincent, has no difficulty in either giving back the investors the money they had deposited, or the delivering properties the investors bought.

“Those things will sell again for even an higher price,” Commissiong opined.